A tipster (send in your tips here) with incredible eagle eyes sent in an observation from a BBB report. It’s the first time I’ve seen such a comment on a BBB report but it support what we’ve been saying over the past couple of years.
Remember when we talked about how debt relief companies would need to develop stronger ties with all providers and that companies that offered debt settlement services would start to offer debt management programs to widen their offerings?
Renaissance Debt Solutions is a for-profit debt relief company located in Hunt Valley, Maryland. They currently have an A rating with the BBB.
The Renaissance Debt Solutions website says they offer programs for debt settlement, debt management, and bankruptcy. – Source
What the reader caught was what the BBB is reporting about Renaissance Debt Solutions:
This company offers unsecured debt management services. Renaissance Debt Solutions debt management program is administered through Credit Guard of America. View Credit Guard of America’s report at http://www.seflorida.bbb.org/BusinessReport.aspx?CompanyID=6481 – Source
I predict we will be seeing more of these relationships openly develop between for-profit debt relief companies and non-profit credit counseling groups moving forward. At least we now know, according to the BBB, that Credit Guard of America is one such non-profit group that is willing to develop such relationships.
What will be interesting is to continue to witness how IRS 501(c)3 non-profit credit counseling handles these relationships and if they have close ties with for-profit debt settlement companies why they then just don’t jump into debt settlement and offer it themselves.
Nice to see Credit Guard of America isn’t afraid of what the creditors might think.
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